REFILE-LIVE MARKETS-Houston, we have a listing: SpaceX soars in Nasdaq debut

SpaceX SPCX	0.00	0.00%
Dow Jones Industrial Average DJI	0.00	0.00%
CBOE Volatility Index	0.00	0.00%
Tema Space Innovators ETF NASA	0.00	0.00%
American Century Mid Cap Growth Impact ETF MID	0.00	0.00%

Fixes typo in Live Markets

Dow, S&P 500 gain, Nasdaq ~flat in choppy trade

Materials lead S&P 500 sector gainers; Cons Disc weakest group

Euro STOXX 600 index jumps >1.9%

Dollar, gold ~flat; US crude down >3%; bitcoin gains

US 10-year Treasury yield edges up to ~4.48%

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HOUSTON, WE HAVE A LISTING: SPACEX SOARS IN NASDAQ DEBUT

The S&P 500 is bouncing between gains and losses on Friday, with investors juggling excitement over SpaceX’s market debut and optimism around a potential Middle East deal.

At last check, the S&P 500 .SPX is modestly higher, while the Nasdaq Composite .IXIC is around flat. The Dow .DJI is higher by about 0.5% -- putting it down less than 1% from its June 4 record close.

Elsewhere, mid-cap .MID and small-cap indexes .RUT, .SPCY are on track to notch record closing highs, adding to an underlying positive tone.

Geopolitics are also in focus. Comments from President Donald Trump on Thursday raised hopes that a deal to ease Middle East tensions — including reopening the key Strait of Hormuz -- could come as soon as this weekend. That said, Tehran has signaled a final decision is still pending. Vice President JD Vance added on Friday that no funds would be released upfront, noting any economic benefits for Iran would depend on meeting the deal’s terms.

Sector-wise, most of the S&P 500 is in the green. Materials .SPLRCM, energy .SPNY, financials .SPSY and real estate .SPLRCR are all posting gains around 1% or more. Consumer discretionary .SPLRCD, off more than 1%, is the weakest group. Healthcare .SPXHC is slightly red.

Under the surface, chips .SOX, big banks .SPXBK and gold and silver miners .XAU are among the outperformers.

All eyes, though, are on SpaceX SPCX.O. With traders braced for volatility in its Nasdaq debut, shares opened at $150 per share, or a $1.96 trillion valuation, vs. an IPO price of $135 per share. It last traded around $165.

Interestingly, some space-related names have been having a rough day. For example, the Tema Space ETF NASA.K, which showed exposure to SpaceX through a special-purpose vehicle (SPV), is down more than 8% on the day.

Here is a snapshot of where markets stood around 12:16 p.m. ET.

(Terence Gabriel)

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EARLIER ON LIVE MARKETS:

FROM MORIBUND TO MERELY MOROSE: JUNE CONSUMER SENTIMENT BOUNCES IN THE BASEMENT CLICK HERE

SPACEX IPO: BUY THE FUTURE OR WAIT FOR THE PULLBACK? CLICK HERE

BULLS DEFEND 50-DMA AS NASDAQ EYES RECOVERY CLICK HERE

ONE DAY, TWO VOTES CLICK HERE

ECB: DON’T BELIEVE THE HIKES? CLICK HERE

WORLD CUP-ONOMICS CLICK HERE

TEXTBOOK BEHAVIOUR CLICK HERE

EUROPE BEFORE THE BELL: HIGHER ON THE LATEST PEACE HOPES CLICK HERE

HOPE SPRINGS ETERNAL, ESPECIALLY FOR MARKETS CLICK HERE

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